Black Tuesday, October 22nd 1929: Stock Market Crash
Notes
- Dow Jones industrial average collapsed
- continued sell-off took place until 1932 when the DJIA was 89% of its 1929 peak
- people threw themselves out of buildings
- businesses go bankrupt
- Banks close
Summary
October 22nd, 1929, Also know as "Black Tuesday" was the day that the stock market crashed. The Dow Jones industrial average collapsed, and continued sell-off took place until 1932, when DJIA was 89% of its 1929 high. People were terribly freaked out by all this, and resorted to killing themselves by throwing themselves out of windows, instead of trying to deal with the debt. Tons of businesses went bankrupt, and banks were also closed.
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Quote
"We have hit bottom and are on the upswing"
- James J. Davis
- James J. Davis
Political Cartoon
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Subjunctive Question
What do you think would have happened if the Stock market didn't crash?